Tata Motors shares fall after quarterly results

Shares in Tata Motors, which is also the owner of British automobile maker Jaguar Land Rover, dropped over 5 percent in early trade on Tuesday after the automaker’s quarterly revenue missed on estimates.

The outcomes, out late on Monday, were launched amidst a tussle in between Tata group holding business Tata Sons and its previous chairman Cyrus Mistry, who was ousted previous month.

Mistry is still the chairman of the board at Tata Motors, and the independent directors at the auto maker gave him an indirect nod, however stopped short of an outright endorsement.

Tata Motors shares were dropped 5.5 percent in early trading, compared to a 1.1 percent fall in the more comprehensive NSE index.